My interpretation was that partnership would occur after the trial results are available. But as Ron alluded to in the last post, the critical-for-approval type 1 study is open label which means the data might be shared with potential partners as it came in (the type 2 study is blinded). The point at which enough data would be available to be convincing for a partner to feel comfortable to pull the trigger is anyone’s guess, but my feeling is it will not be before they run out of cash this fall. And whether a partner would want to wait until the type 2 data was released (~mid 2013) is another question to consider, given the potential huge increase in market size.